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The deal represents a 14.3x Ebitda multiple and strengthens Gallagher’s mid-market position. -
If the deal is finalised, it will represent the largest in the acquirer’s history.
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Aviva increases its offer to 275p per Direct Line share.
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The firm is seen as an outstanding competitor to larger rivals in credit and political risk.
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The Lloyd’s (re)insurer is looking to execute a five-year plan to double GWP to $3bn.
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The sale of the business was confirmed in June.
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The transaction has received all required regulatory approvals and closed.
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The insurer will have until Christmas to make a formal offer or withdraw.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.
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The deal follows Bishop Street’s acquisition of Ethos’ TL operations from Ascot.
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The broker’s US retail foray will throw the cards in the air. Where might they land?
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The investment banker said the scarcity of attractive assets made the MGA market “red hot”.
